Tuesday, August 16, 2005

Picolight Raises $27.5 Million for VCSEL

Picolight, a start-up based in Louisville, Colorado, completed a $27.5 million in funding, with the addition of $14.5 million in a combination of new equity investment and debt financing. Investor Growth Capital, a new investor, completed the second close with a $7 million equity investment, and was joined by ORIX Venture Finance, LLC, which provided an additional $7.5 million in debt financing. Investor Growth Capital joins previous investors BA Venture Partners, Vesbridge Partners and Coral Capital Management, who collectively invested $13 million in the first close of the round.

Picolight offers a line of 1310nm Vertical Cavity Surface-Emitting Laser (VCSEL) products, from 4 Gigabit fibre channel to 10 Gigabit Ethernet at long-reach over single-mode fiber. Picolight said its revenues and bookings for the past 12 months doubled year-over-year as the company continued to strengthen its product offering and expand its customer base.

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